Investing in this is very risky???
Today most people are investing in Cryptocurrency to get rich quickly. Crypto has its own risk as well as there are benefits in it. It has given good returns to its investors in a very short span of time. Some have lost millions in fake cryptocurrency and some in fake exchanges. If not satisfied here, then someone has lost his hard-earned money in the dream of better profits by buying virtual land in a fake Metaverse.
Crypto is not regulated
Crypto is not regulated in India. Investing in this is very risky. However, after hearing the news of the profits of a few people, some people get greedy and lose more hard-earned money. The most important reason for losing money due to crypto is that people do not have any special knowledge about it. Taking advantage of this, many fraudsters cheat people of lakhs of rupees.
Amidst the war between russia and Ukraine, the sound of global recession has started, the effect of which is also being seen on the market. The market is constantly collapsing. Taking advantage of this, fraudsters send the link of crypto exchange to people by luring them to buy the dip and giving good profits in the future. This link is exactly the same as the link of the original website. As soon as investors click on this link and link their wallets, their accounts will be emptied immediately. Sometimes fraudsters also sell fake crypto or virtual land that doesn't even exist.
Thousand crore rupees loss
According to security firm CloudSEK, till now people in india have lost up to Rs 1000 crore in different crypto scams. First of all, know how investors are targeted? The modus operandi of robbing in the world of crypto or meta is something like this. Fraudsters create websites of fake crypto exchanges or fake metaverses. By contacting through social media, the money for the initial trade in crypto is given as a gift. When money appears to be made in a fake exchange in the beginning, then the investor invests more of his money due to greed. At the same time, thugs rob all the money by freezing the account of the investor.
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